In September 2023, The Conference Board reported a decline in the Consumer Confidence Index from 108.7 to 103.0, marking the second consecutive decrease in this metric.
Other notable data included an increase in the Present Situation Index from August’s 146.7 to September’s slightly higher score of 147.1 and a decline in the Expectations Index from August’s score of 83.3 to September’s lower score of73 .7.
According to The Conference Board’s Chief Economist Data Peterson, consumers expressed concerns about rising prices for groceries and gasoline as well as political uncertainty and higher interest rates.
Experts such as economist Ray Perryman and realtor Alexander Capozzolo attributed these declines to factors such as inflation, weather events, government shutdowns,and student loan payments impacting consumer sentiment.
The future trajectory of consumer confidence will depend on how effectively these underlying issues are addressed through policy changes or improvements in job market conditions accordingto Capozzolo.While Perryman suggests that if inflation decreasesand there is a “soft landing” forthe economy,the index could improve.Additionally,a short government shutdown may not have significant long-term effects on consumer sentiment,says Perryman.However,Capozzolosuggests that owners,mangers,and landlords should be prepared for potential downturnsin certain sectors heavily reliant onconsumer spending by evaluating investment risks,having enough liquidity or credit available,and being readyto take advantageoflower property prices during market downturns.The impacton commercial real estate may not be immediately visible,saysPerryman,but it is importantfor landlordsand tenants alike tomaintain open communication during uncertain times.
Accordingly with SEO best practices,the latest report by The Conference Board showsa decreaseintheConsumer ConfidenceIndexfromAugust2023 (108 .7)toSeptember2023(103 .0). This marks two consecutive months where this metric has declined.Other noteworthy data includesan uptickin the Present Situation Indexfrom146.7inAugustto147.1inSeptember,and a decrease intheExpectations Index from83 .3 in August to 73 .7 in September.
Chief Economist Data Peterson of The Conference Board stated that consumers continue to express concerns about rising prices for groceries and gasoline, as well as political uncertainty and higher interest rates.
Experts such as economist Ray Perrymanand realtor Alexander Capozzolo attribute these declines to factors like inflation, weather events,government shutdowns,and student loan payments impacting consumer sentiment.
The future trajectory of consumer confidence will depend on how effectively these underlying issues are addressed through policy changes or improvements in job market conditions accordingto Capozzolo.While Perryman suggests that if inflation decreasesand there is a “soft landing” forthe economy,the index could improve.Additionally,a short government shutdown may not have significant long-term effects on consumer sentiment,says Perryman.However,Capozzolosuggests that owners,mangers,and landlords should be preparedfor potential downturnsin certain sectors heavily reliantonconsumer spending by evaluating investment risks,having enough liquidity or credit available,and being readyto take advantageoflower property prices during market downturns.The impacton commercial real estate may not be immediately visible,saysPerryman,but it is importantfor landlordsand tenants alike tomaintain open communication during uncertain times.
